Bond Outlook [by bridport & cie, August 12th 2009]
“US recession called done” (WSJ) and many similar headlines this week certainly look encouraging. Why then can we not escape the feeling that there is something of a confidence trick being performed before our eyes? We are certainly not alone in our apprehension, in that we find a significant number of worthy commentators who share our suspicions. |
In simple terms, the US economy is today based on an artificial and unsustainable construct. |
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